This January 1916 letter by William Maxwell, second vice president of Thomas A. Edison, Inc., in charge of the Musical Phonograph Division, discusses the economics of the phonograph business. It is addressed to A. S. Thomas of the Santa Fe Watch Co., which sold phonographs in their store in Topeka, Kansas.

Courtesy of the Kansas State Historical Society, Copy and Reuse Restrictions Apply (http://www.kshs.org/research/collections/documents/photos/webuse.htm)